SOCB42H3 Study Guide - Midterm Guide: Proletariat, Capital Accumulation, Labour Power
Document Summary
One person; many tasks within a single trade: elicits: Increases potential quality of work when a person"s job is reduced to a single operation. Saving time: no switching between jobs allows for constant production, changing tasks promotes laziness in workers. Many provide the tools, and the materials, to produce his coat. Equilibrium: when the natural and market price of a product coincide, law of supply and demand, natural vs. market price, natural price: wages, rent, profit. A man grows rich by employing a magnitude of manufacters, he grows poor by maintaining menial servants. : the menial servant is unproductive, and this comes at a cost to the master. Labour must produce and renew itself be productive and accumulate capital: proportion of the produce is employed in maintaining productive hands which determines next years produce. Wages, rent, etc: produce divided into two parts, capital replacement: Renewing provisions, materials, and finished work: revenue.
